Money managers under the microscope
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
The Lehman derivatives muddle – FT Alphaville
Ex-AIG chief Cassano back in U.S. – Reuters
Hedgie dies in escalator fall - Fox News
Swiss hit Lansdowne to lure Hedgies – Swisster
Irish FinMin on the hedge fund backing anti EU-campaign – Irish Times
Hedge fund firms are once again positioning their businesses for better times ahead — lending further weight to anecdotal evidence that investors are turning back to the industry.
Shorting UK banks, it seems, is so last year.
Having profited from the implosion of the sector in 2008, many funds believe prices have fallen far enough, and in some cases are actually looking good value.
Outspoken star fund manager Crispin Odey this week revealed he’s now buying UK banks, having made money shorting them last year.